Institutional system analysis in political economy neoliberalism, social democracy and islam

12 14 16 13 11 10 15 9 8 7 6 Domestic debt Increased credit costs Increased Imports High interest rate Foreign Debt Stagnant exports Interest cost on domestic debt "Hot Money" inflows of

n

12

14 16

13

11 10

15

9 8

7 6

Domestic debt

Increased credit costs

Increased Imports

High interest rate

Foreign Debt

Stagnant exports

Interest cost on domestic debt

"Hot Money" inflows of foreign capital

Real appreciation 17

Figure 6.5 Institutional intersections of the Turkish economy under full

Liberalisation, 1989-2002

Source:Boratav et al (2002:7)

138

Nov.1983 Nov 1987

HP 30.5 SHP 24.9 SHPDYP 19.1 DYP

RP 7.2 RPMÇP 2.9ANAP 45.2 ANAP 36.3 ANAPDSP 8.5 DSP

Table 6.2 Major indicators of Turkish political e conomy, 1980-2002

Results of General Elections

Int erregnum

Oct ober 199120.8

Dec Nov Oct

10.5 ANAP DYP - SHP

Government Final Cons Exp./GDP 3

3.6 -4.1 5.7 2.7

The harmonized GDP data has been used, p rovided by the TM D and the OECD

2For 1950-1974, Consolidated Budget Balance/GDP; 1975-2012, PSBR/GDP; - indicates surp lus

41970-1988 Dep osit interest rates, 1989-2012 average comp ound interest on domestic borrowing

51989 value rep resents average of 1985-1989

Source : TM D (2013a), TUIK (2013), OECD (2013a).

Table 6.2 Major indicators of Turkish political e conomy, 1980-2002

Nov

1995

AKP CHP DYP

Mar Jun Jan

11.615.5 16.7 18.6 21.53.7 6.5 5.8

-0.325.3 27.4 29.4 27.1-1.0 -1.0 -1.0

-3.9-7.4 7.3 6.0 19.3-31.1 18.2 21.8

…-2.6 11.2 13.4 2.8

3.50.4 -4.7 -0.6 23.92.6 0.8 0.5

7.0

-14.2 2.6 0.8

3.723.76 3.76 3.76

-1.2-2.7 -11.2 -5.6 0.80.2 -8.5 -0.3

Dep osit interest rates.

Source : TM D (2013a), TUIK (2013), OECD (2013a)

Re sul ts of Ge ne ral El e cti ons

AP-MSP AP-MSP CHP

19785.6 7.4 5.6 7.2

-5.07.6 13.4 0.7 6.4

8.9 10.6 7.1 9.1 6.6 3.1

-0.8 -2.6 -2.6 -1.4 -1.1

3.9 -0.1 1.11.0 0.5

-1.28.1 8.5 0.0 9.8

-0.4 0.0 -1.4 -2.6 -3.8 -1.4

-0.6 3.6 6.1 2.4 5.4

9.2 7.7 6.7-1.8 -0.1

-9.0 3.8 3.9 22.2 12.9 -16.2

15.4 19.0 22.5 53.3 62.0

8.2 7.5 6.821.8 15.3

8.69.0 9.0 9.0 9.0

6.4 -0.9 -9.3 -5.0 3.9 -16.2

8.9 12.5 11.9 -1.8 -3.8

3.6 -3.6 -7.38.3 -7.7